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Hargreaves tells investors to sell after US terror attacks

Hargreaves Lansdown is advising investors to increase liquidity in their portfolios following the attacks on the US last week.

In a letter to clients, chief executive Peter Hargreaves predicts that a US recession is now almost certain, and advises clients to sell off poor performing investments to protect against any further market falls.

Hargreaves says: "Today, I believe that investors could sensibly pursue the strategy of increasing liquidity in their real portfolios. It doesn’t seem wrong to me today to sell poor performing investments, and look to real quality such as gilt edged stock or even hold cash pending a further possible shakeout in the aftermath of the World Trade Centre disaster."


C&G axes dual rates after FOS ruling

Cheltenham & Gloucester has ditched its dual variable rate policy after the Financial Ombudsman Service&#39s ruling against Halifax. It says it may reverse its decision if other cases do not follow the same pattern.

UCB adds to buy2let range

UCB Home Loans, the specialist lending arm of Abbey National, is bolstering its range of buy-to-let products with the five-year fixed buy2let mortgage.UCB has fixed the mortgage rate at 6.89 per cent for the first five years and for loans of up to 80 per cent of the value of the property. The maximum possible […]

Duncan-Smith announces Shadow Cabinet

Conservative Party leader Iain Duncan-Smith has unveiled his shadow cabinet, with Michael Howard as Shadow Chancellor.David Willetts is the new Shadow Secretary for Work and Pensions, rising star John Bercow becomes Shadow Chief Secretary to the Treasury and John Whittingdale is the new Shadow Trade and Industry Secretary.Further positions are expected to be announced shortly.

The Daley Update

ABN Amro is set to introduce a North American fund in the last quarter of the year. The fund will be managed by US fund manager Montag Caldwell, which the Dutch bank acquired this year. Credit Suisse Asset Management launches a new multi-manager Pep transfer and Isa offering today. Investors can choose any of CSAM&#39s […]

The fifteen-year itch

By Neil Jones Technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The treatment of non-UK domiciles that are resident in […]


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